US Dollar
Euro
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UAE Dirham
Australian Dollar
Singapore DollarInvoices and records
Needs GST invoices that reconcile, consistent transaction records, and pricing that reflects annual volume.
Corporate Desk · Matrix Forex
Corporate Forex for Business Travel Teams
Employee forex cards and foreign currency notes coordinated through one corporate forex programme, with company documentation support and GST invoicing for your finance desk.
Direct Answer
What is corporate forex?
Corporate forex is foreign exchange bought by a company for its employees' business travel, rather than by each traveller individually. The company sets up an ongoing corporate forex relationship, provides a business-travel authorisation covering its travelling staff, and draws currency or loads employee cards through it.
The practical difference is coordination and pricing. Company-level details are held once as part of the relationship, traveller and trip details are provided per batch, and pricing is discussed against the company's actual travel volume rather than walk-in retail rates.
Who this is for. Companies sending staff abroad often enough that coordinating each trip separately has become the bottleneck, and finance teams that need proper invoicing and records instead of a pile of individual receipts.
Who Actually Uses This
Corporate forex is an operations problem before it's a rate problem
Different people own different parts of the trip. Most of them never touch the currency itself.
Traveller coordination
Needs one place to sort out who is going where, in which currency, and whether they need a card or cash.
Last-minute trips
Needs a repeatable process when plans change on Friday for a Monday flight.
Short deployments
Installation, audit and client-site crews flying out together for a fixed stint.
Frequent travel
Direct line to someone who already knows the account, without restarting for every trip.
One destination, many people
A coordinated currency plan around a shared destination and travel window.
What We Provide Corporates
Two products. One desk.
Most corporates need two things: cards for travelling staff, and physical currency for last-minute trips. Both are coordinated through one corporate forex programme with a named RM.
Corporate Forex Cards
Pre-loaded multi-currency or single-currency travel cards for travelling employees, arranged through your corporate forex programme.
- Single-currency: a locked-rate card for a focused destination.
Foreign Currency Notes
Currency notes across the currencies we transact in, delivered to your office or split across multiple traveller addresses on a single purchase order, at the live rate.
- Per-trip cash limits tracked at order level under the applicable FEMA rules.
Authorisation Letter
Company authorisation. Traveller details organised together.
For company-funded business travel, an authorised signatory, typically the CFO, HR head or company secretary, can provide a business-travel authorisation on company letterhead.
It sets out the relevant traveller, destination, purpose, currency and amount details. Company-level KYC can be maintained as part of the corporate relationship, while traveller-, trip- or product-specific documents are collected or refreshed where required.
Your RM provides a fillable template to adapt to your letterhead. You'll also see this called a LERMS letter, after the legacy exchange-rate framework the name comes from. It's the same document. Read more in our guide to forex for frequent business travellers.
Sample · Authorisation Letter
[On company letterhead]
Date: __ __ ____
To,
Matrix Forex Services Pvt. Ltd.
[branch / RM name]
Subject: Authorisation for foreign exchange for business travel
This is to certify that the following employees of [Company Name],
PAN ______, are travelling abroad on official business for the
purposes and amounts listed below:
Name | Designation | Country | Dates | Ccy | Amount | Purpose
----------+-------------+---------+-------------+-----+--------+--------------
[ ] | [ ] | [ ] | DD MMM YYYY | [ ] | [ ] | [ ]
I, ____________ (authorised signatory; designation: ______), declare that:
1. The above foreign exchange is required strictly for the
official business purpose stated.
2. The amounts requested are within the limits applicable to
business travel under FEMA, 1999.
3. The Company will retain supporting documentation for audit.
For [Company Name]
_____________________
Authorised Signatory
[Name, Designation, Email, Mobile] · [Company Stamp]
Illustrative format only. Your RM supplies the current template, and the exact wording is settled with your finance and legal teams before signing.
How Corporate Onboarding Works
Onboard once, then order in a call
The setup happens one time. After that, each trip is a short conversation with the person who already knows your account.
01
RM assigned
A named corporate RM takes your account and shares the onboarding pack.
02
KYC & agreement
Company KYC and the service agreement are completed digitally.
03
Authorisation letter
Your signatory issues the declaration listing travellers, currencies, amounts and purpose.
04
Commercial proposal
Your RM shares a proposal covering the rate basis and any applicable fees for your requirement.
05
Recurring orders
Later orders are placed with your RM, who confirms the rate, arranges the load or currency, and raises the invoice.
Documents & Compliance
What we collect, once
After onboarding, a new batch of travellers needs only a refreshed authorisation letter. Company paperwork isn't re-collected on every order.
1Company PAN
2GST registration
3Certificate of Incorporation
4Board / authorisation resolution
5Authorised signatory KYC
6Authorisation letter (per batch)
7Traveller and trip details
8Form A2 / transaction documentation
When the letter applies
- Business travel of staff: sales meetings, client visits, factory audits, supplier reviews.
- Bulk card loads: loading several employee cards for a travelling team in one transaction.
- Trade shows and conferences: where the company funds the trip in foreign currency rather than reimbursing afterwards.
- Project and crew travel: engineering or installation teams flying out for short stints.
Where it doesn't apply: an employee's personal travel is their own purchase under their individual annual limit, not the company's authorisation. We can set up both, separately.
Corporate Forex In Your City
Where the business travel starts
Each city page covers local delivery, walk-in collection and same-day cut-offs for that region.
BKC & Lower Parel
Finance, consulting and client-travel teams across the western business district.
Forex in Mumbai →Whitefield & Koramangala
Technology teams, founders and project travel out of the tech corridors.
Forex in Bengaluru →Delhi NCR
Sales travel, exhibitions and international meetings across the capital region.
Forex in Delhi →
ONE DESK.
EVERY
TRAVELLER.
EVERY
TRAVELLER.
One relationship covering the people, the paperwork, the cards and cash, and the records your finance team files.
Why Matrix Forex
Built for the finance desk
Pricing against your actual volume
A commercial proposal discussed against your real currencies, amounts and travel frequency, rather than walk-in retail pricing on every order.
Named relationship manager
One person who knows your account, your travel calendar and your documentation, reachable directly.
GST invoicing and statements
Tax invoices per order and consolidated statements per traveller, in the format your accounts team files.
RBI Authorised Dealer Category-II
Licence NDL-ADII-0023-2023. Matrix manages the authorised-dealer customer and compliance workflow, while card issuance and settlement follow the applicable issuer or bank programme.
Corporate Forex FAQs
What finance teams ask first
What are corporate forex services for business travel?
They let a company arrange foreign exchange for employees travelling on official work, rather than each traveller buying their own. The service covers employee forex cards, foreign currency notes, company documentation support and finance-facing records, coordinated through one corporate desk.
How is this different from an employee buying their own forex?
Company-funded business travel is declared and paid for by the company against its business-travel authorisation. An employee's personal travel is their own purchase under their individual annual limit. The documentation, the invoicing and the pricing all differ.
What is a LERMS letter?
It's the business-travel authorisation your signatory issues on company letterhead, setting out the travelling employees, the currency and amount each carries, the destination and dates, and the business purpose. The name comes from a legacy exchange-rate framework; the document is the one shown above.
Do you issue business forex cards for employee travel?
Yes. Employee travel cards are arranged through your corporate forex programme in single-currency or multi-currency form. Your RM confirms the current card programme details for your requirement.
Can one authorisation cover several travellers?
A corporate travel batch can be organised under one company authorisation listing the relevant travellers. The current Matrix compliance process determines which traveller, trip and product-specific documents are needed for each transaction.
How do corporate forex rates compare with a bank or a corporate card?
The variables are the markup on the rate, the fees, and the cross-currency treatment. Rather than quoting a blanket percentage, ask your RM for a proposal against your actual annual volume and compare it with your current provider's quote on the same amount and currency.
Can you invoice with our GSTIN?
Your company GST details are captured as part of onboarding, and your RM confirms the invoicing format before the first order.
Who handles the transaction documentation?
Form A2 and the applicable transaction documentation are handled through the Matrix authorised-dealer workflow. Your side is the business-travel authorisation plus the company, signatory and traveller details required for each transaction.
What happens to unused currency after a trip?
Unspent notes can be sold back, and unused card balances encashed, subject to the applicable retention rules. Your RM can walk your travel desk through either route.
Related Reading
Before you start a programme
Forex for Frequent Business Travellers
How teams that travel often reduce what they lose on rates and fees.
Read the guide →Forex Card
The card product your employees would carry, explained end to end.
Explore forex card →Forex Regulations
Documentation and regulatory guidance relevant to forex transactions.
View regulations →All Supported Currencies
Live rates and guides for every currency we transact in.
Explore currencies →Transfer Money Abroad
Outward remittance routes for eligible business purposes.
Send money abroad →Branches
Where your RM sits, and where walk-in collection is available.
View locations →Corporate Desk
Get a proposal built on your travel volume
Tell us roughly how many people travel and where they go, and a named RM comes back with pricing and the onboarding pack.